The Isle of Man

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Situated in the heart of the British Isles, the Isle of Man is not part of the United Kingdom but a dependent territory of the British Crown.

With its own independent parliament, Tynwald, the Island makes its own laws and governs all internal administration.

External issues, such as foreign representation and defence are undertaken on the Island's behalf by the UK Government, for which the Isle of Man pays an annual fee.

With total independence from the UK on matters of direct taxation, the Island employs low personal tax, zero corporation, capital transfer and inheritance taxes.

As a result, the Isle of Man has developed into an internationally renowned offshore business centre.

As well as finance, the Island's economy also has benefits from flourishing e-commerce, film, tourism agriculture and fishing industries.

Thanks to a flourishing economy, the Island's national income has risen rapidly over the last few years while unemployment levels are extremely low.

Educational, health and social amenities are excellent and help afford one the highest quality of life levels in Britain.

A hub for an array of sporting activities, the Island is probably best known for its annual festival of TT Races which attracts tens of thousands of motorcycling enthusiasts from around the world.

 

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